Cox's Extraordinary General Shareholders' Meeting unanimously approved the purchase of 100 percent of Iberdrola Mexico's capital stock. This deal allows the Spanish firm to access key energy assets in the country. Cox strengthens its position as a major player in Mexico's energy market.
The Spanish energy and water management company, Cox, headquartered in Spain, received unanimous shareholder approval to acquire Iberdrola Mexico. The meeting, held with a quorum of 84.30 percent, approved the three agenda items with an average of 100 percent favorable votes, reflecting confidence in the company's strategy.
Cox, present in Mexico for over a decade, gains access to assets with a capacity of 2,600 megawatts and to the country's largest private supplier, holding a 25 percent market share distributed among more than 500 major clients. This acquisition aligns with Cox's business plan, which includes projects in green energy generation and transmission across America, Europe, the Middle East, and Africa.
Cox's executive president, Enrique Riquelme, emphasized that "the absorption of Iberdrola Mexico is a decisive step in its global strategy, reinforces presence in a key market, anticipates our strategic objectives, and consolidates Cox as a relevant player worldwide in the water and energy sectors." The company has been listed on the Spanish Stock Exchanges since November 15, 2024, solidifying its international standing.